NEW YORK (Standard&Poor's CreditWire) Feb. 17, 2000--Standard&Poor's today lowered its long-term corporate credit, senior unsecured debt, and bank loan ratings on AutoZone Inc. to triple-'B'-plus from single-'A'-minus. Standard&Poor's also lowered its preliminary rating on the company's Rule 415 shelf registration of senior unsecured debt to triple-'B'-plus from single-'A'-minus and its preliminary subordinated debt rating on this shelf to triple-'B' from triple-'B'-plus. These ratings are removed from CreditWatch, where they had been placed with negative implications on Dec. 10, 1999. At the same time, Standard&Poor's affirmed its 'A-2' short-term corporate credit and commercial paper ratings on AutoZone. These ratings were not on CreditWatch. The outlook is negative. The downgrade reflects the company's more
